Cornerstone Advisors LLC Trims Position in CBRE Group, Inc. (NYSE:CBRE)

Cornerstone Advisors LLC decreased its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 20.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 12,700 shares of the financial services provider’s stock after selling 3,300 shares during the quarter. Cornerstone Advisors LLC’s holdings in CBRE Group were worth $1,132,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harris Associates L P increased its position in CBRE Group by 4.5% during the fourth quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock worth $1,489,919,000 after purchasing an additional 683,225 shares during the last quarter. Principal Financial Group Inc. increased its position in CBRE Group by 3.0% during the second quarter. Principal Financial Group Inc. now owns 7,146,749 shares of the financial services provider’s stock worth $636,847,000 after purchasing an additional 210,004 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in CBRE Group by 0.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 6,087,070 shares of the financial services provider’s stock worth $542,419,000 after purchasing an additional 53,142 shares during the last quarter. Wellington Management Group LLP increased its position in CBRE Group by 164.1% during the fourth quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock worth $419,387,000 after purchasing an additional 2,799,097 shares during the last quarter. Finally, Norges Bank acquired a new position in CBRE Group during the fourth quarter worth approximately $381,164,000. Institutional investors and hedge funds own 98.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Morgan Stanley assumed coverage on shares of CBRE Group in a research report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price target for the company. Evercore ISI raised shares of CBRE Group from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $100.00 to $123.00 in a research report on Friday, July 26th. Raymond James increased their price objective on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Wolfe Research raised shares of CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Finally, UBS Group dropped their price objective on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $110.29.

Insider Activity at CBRE Group

In related news, COO Vikramaditya Kohli sold 1,074 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $108.89, for a total transaction of $116,947.86. Following the completion of the sale, the chief operating officer now directly owns 69,226 shares of the company’s stock, valued at approximately $7,538,019.14. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, COO Vikramaditya Kohli sold 1,074 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $108.89, for a total value of $116,947.86. Following the transaction, the chief operating officer now directly owns 69,226 shares in the company, valued at approximately $7,538,019.14. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christopher T. Jenny sold 10,847 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the completion of the transaction, the director now owns 51,244 shares in the company, valued at $5,739,328. The disclosure for this sale can be found here. In the last three months, insiders sold 27,232 shares of company stock valued at $3,058,787. Corporate insiders own 0.54% of the company’s stock.

CBRE Group Price Performance

CBRE opened at $119.50 on Tuesday. The company has a fifty day simple moving average of $108.71 and a 200 day simple moving average of $96.54. The firm has a market cap of $36.67 billion, a price-to-earnings ratio of 37.23 and a beta of 1.40. CBRE Group, Inc. has a twelve month low of $64.63 and a twelve month high of $120.52. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.31 billion. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the business earned $0.82 EPS. Equities research analysts expect that CBRE Group, Inc. will post 4.81 EPS for the current fiscal year.

CBRE Group Company Profile

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.